Regardless of persevering with challenges round automobile provide, staffing shortages, demand shifts, and the cloud of a recession, the U.S. automotive rental trade earned an estimated $36.1 billion in income for 2022, based mostly on knowledge collected by Bobit. That yearly whole represents a 24.7% progress over 2019’s document 12 months and is probably going the best year-over-year achieve in trade historical past.

In the meantime, the estimated variety of new autos bought into rental fleets in 2022 represents lower than half the entire variety of autos bought in 2019. Nonetheless, rental firms are holding their automobiles in fleets longer to compensate. 

The high-pricing, tight fleet setting drove one other new document for income per unit monthly (RPU) of $1,424.

2022 U.S. Automobile Rental Market: Fleet, Areas, and Income

Statistics based mostly on company-provided knowledge, public paperwork, trade analysis, and ARN estimates. Income comes from U.S. automotive rental operations solely. Fleet, location, and income numbers signify whole U.S. operations, together with franchises.

1 Enterprise Holdings ends its fiscal 12 months July 31.

2 ARN estimates.

3 Areas embody kiosks.

4 2021 income represents U-Save solely. Inexperienced Movement’s buy of U-Save closed September 2022.

5 Independents estimates based mostly on accessible market knowledge, figures and changes for current openings, closures, and consolidations. Independents embody Inexpensive/Wise, and Financial system.

“This 12 months’s outcomes are a sworn statement to the agility of the trade to vary with the speedy fluctuations of market situations and provide and demand,” mentioned Chris Brown, government editor of Auto Rental Information.

“I by no means would’ve guessed the trade would’ve rebounded this shortly exiting the pandemic to succeed in document revenues. That mentioned, the setting isn’t one to calm down in, as those self same pressures will ease solely barely in 2023.”